To quote from Tolkien's "Commentary accompanying the translation of Beowulf", published by Christopher Tolkien and based on Tolkien senior's lecture notes from the 1930s (as the Professor of Anglo Saxon at Oxford, per Codosaur's answer):
90–1 haunting shapes of hell; *112 orcnéas
The O.E. word occurs only here. orc is found glossing Latin Orcus [Hell, Death]. neas seems certainly to be né-as, plural of the old (poetic) word né 'dead body'. This appears also in né-fugol 'carrion bird'. Its original stem in Germanic was nawi-s: Gothic naus (plural naweis), Old Norse ná-r.
'Necromancy' will suggest something of the horrible associations of this word. I think that what is here meant is that terrible northern imagination to which I have ventured to give the name 'barrow-wights'. The 'undead'. Those dreadful creatures that inhabit tombs and mounds. They are not living: they have left humanity, but they are 'undead'. With superhuman strength and malice they can strangle men and rend them. Glámr in the story of Grettir the Strong is a well-known example. (Tolkien, Beowulf, A Translation and Commentary pp 163–4)
Based on these associations that Tolkien gives to orcnéas (at least at the time when this commentary was written), especially the explicit suggestion of barrow-wights, I think it is safe to say that while the word orcnéas, or even the latin orcus may have been a source for Tolkien's 'orc' (which he emphasises is not associated with Orca), the orcnéas as creatures are not themselves the prototypes for his Legendarium orcs.